IDSC: reducing debt, increasing revenues most important features of Egypt's 22/23 budget

CAIRO - 23 May 2022: Egypt aims to achieve revenues of LE 1.5 trillion during the next fiscal year 2022/2023, according to the Information and Decision Support Center (IDSC).

 

 

The IDSC added that the next year's budget targets LE 2 trillion in expenditures.

 

This came in the infographic published by the IDSC on the goals of the new year’s budget 2022-2023.

 

It pointed out that the volume of public investments is expected to reach LE 376 billion, with an annual growth of 9.6 percent.

 

The infographic also reveals the expectations to hit an increase in environment-friendly projects by 50 percent.

 

Wages will have an important share of the budget allocations; It is expected to reach LE 400 billion, with an increase of 43 billion, in order for workers to face the rising cost of living.

 

It pointed out that reducing the debt rate is one of the most important goals of the new budget; It aims to reduce the overall deficit to 6.1 percent of GDP, compared to 12.5 percent ​​in 2016.